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| Photo Credit: Peloton. |
In a bid to boost sales of its high end bikes that have plummeted following easing of pandemic lockdown, Peloton will sell the product and other gear on Amazon, The Associated Press reports.
“We want to
meet consumers where they are, and they are shopping on Amazon,” Kevin Cornils,
Peloton’s chief commercial officer, said in a statement Wednesday, according to
The Associated Press.
The
partnership marks a shift in the company’s policy of selling products on its
own website as well as physical showrooms and other channels.
Earlier this
month, the company announced it would significantly reduce number of stores it
was operating in North America, shifting its delivery work to third-party
vendors as well as shed jobs following its financial downturn.
Shares of
the New York-based Peloton Interactive Inc. soared 20% Wednesday following the
announcement, according to The Associated Press.
Some of the
products that would be available on Amazon as part of its entry include
Peloton’s original bike listed at $1,445, the company’s strength-training
“Guide” device, as well as its workout mat, dumbbells and glass water bottle. The
company noted that its partnership provides for an expert to assemble customer bikes.
Sales of the
company’s interactive-stationery bikes dropped significantly after the pandemic
following a boom during COVID- 19
lockdowns where most people were indoors and did workout for leisure.